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Dow and S&P drop 1 percent


    NEW YORK (Reuters) - Stocks extended losses on Friday, with the Dow and S&P 500 indexes briefly down more than 1 percent, as weaker trade data from China, the scrapping of a large IPO and ongoing disputes about a second Greece bailout weighed on sentiment.

    The Dow Jones industrial average lost 112.55 points, or 0.93 percent, to 12,011.81. The Standard & Poor's 500 Index dropped 12.16 points, or 0.94 percent, to 1,276.84. The Nasdaq Composite Index fell 20.63 points, or 0.77 percent, to 2,664.24.